fbpx

Polygon funding

polygon funding

Indian cryptocurrency platform Polygon has raised an undisclosed amount from US-based investor and entrepreneur Mark Cuban. 

The company strives to provide faster and cheaper deals on the Ethereum blockchain. Polygon’s native token Matic has crossed $10 Bn in market cap and is one of the top 20 crypto coins globally.

Polygon is a layer 2 scaling project designed by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic in 2017. It was built to work as an alternative to Ethereum’s blockchain or to build ‘sidechains’ along Ethereum’s network to overcome some of its issues. 

The idea of Polygon’s sidechains assures that users do not have to bear slow transaction speeds and costs as an endless number of sidechains can be created along with existing blockchains if the pre-existing sidechains also get blocked.

In a social media post, Polygon shared that the cryptocurrency platform is now part of Cuban’s portfolio.

Cuban’s website lists its investment in Polygon as a “well-structured, easy-to-use platform for Ethereum scaling and infrastructure development”. The funding amount has not been disclosed. Cuban owns the Dallas Mavericks basketball team and is one of the main “shark” investors on the American startup reality show “Shark Tank”.

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For publishing an advertorial article about your company on our website, drop an email at taniya@startuplanes.com

Tags

top